issued 10000 shares of nopar common stock for 11 per share R

issued 10,000 shares of? no-par common stock for $11 per share. Read the requirements

Requirement 1a. Record issuance of the stock if the stock is true? no-par stock. ?(Record debits? first, then credits. Select the explanation on the last line of the journal entry? table.)

Date

Accounts and Explanation

Debit

Credit

a.

Requirement 1b. Record issuance of the stock if the stock has stated value of ?$33

per share. ?(Record debits? first, then credits. Select the explanation on the last line of the journal entry? table.)

Date

Accounts and Explanation

Debit

Credit

b.

Requirement 2. Which type of stock issuance results in more total? paid-in capital?

?

Both result in the same amount of paid-in capital.

The no-par stock.

The stock with a stated value of $3 per share.

Date	Accounts and Explanation	Debit	Credit
a.

Solution

a Cash 110000       Common Stock 110000 b Cash 110000       Common Stock 30000        Paid in capital in excess of stated value 80000 2 Both result in the same amount of paid-in capital.